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3. On June 17, 2020, Snow's Heating Ltd. offered its employees the opportunity to purchase 250 common shares on a subscription basis. Forty (40) employees
3. On June 17, 2020, Snow's Heating Ltd. offered its employees the opportunity to purchase 250 common shares on a subscription basis. Forty (40) employees decided to accept this offer. On June 17, Snow's shares were selling for $45 each. A 40% downpayment was required, with the balance due in four months. On October 17, 2020, the balance of the subscription was received, and the shares were issued. Prepare the journal entries required on June 17 and October 17, 2020
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